California unemployment rate falls

The state’s unemployment rate fell to 8.5% in June, according to figures released Thursday by the state’s Employment Development Department. That’s down from 10.6% in June 2012, the steepest decline by any state during that time period. It’s not...

Will Rate Increases Impact Home Prices?

From May 3 to July 12th , interest rates really zoomed. Is it enough to stall the housing recovery?  Fannie Mae’s Mark Palim says there is no historical precedent for knowing the impact on the housing market of an interest rate change, either up or down, because...

What is a portfolio lender?

Most banks initiate loans and then sell them off and merely remain as servicing agents.  A portfolio lender holds loans in its own portfolio. The big bank boondoogle in the last few years was caused in part by the massive selling off of bad loans to unsuspecting...